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July 16, 2026
Team Success: Aligning Means with Objectives
In corporations, sports, and academia, people often face challenges they cannot handle alone. In such cases, selecting the right team is crucial. Tatiana Mayskaya, Associate Professor at the HSE Faculty of Economic Sciences and the International College of Economics and Finance, together with colleagues from foreign universities, examined team characteristics and found that less diverse teams are better suited to objectives where a high average performance is important, whereas more diverse teams are preferable when avoiding failure is critical. The paper has been published in Economic Theory.
July 15, 2026
Economists Propose More Effective Approach to Reducing Smoking
Economists at HSE University have examined how smokers respond to changes in cigarette prices. When tobacco prices increase, cigarette consumption does not always decline. In fact, spending on tobacco may even rise: according to the researchers, a 1% decrease in cigarette affordability leads to a 0.28% increase in per capita tobacco expenditure. The findings suggest that to reduce smoking rates, tobacco prices must rise faster than household incomes. The study has been published in Voprosy Statistiki.
July 15, 2026
HSE MIEM Students to Develop Two Satellites from Scratch for Orbital Experiments
The devices, created by student teams, will conduct space research on the properties of promising solar cells, on-board energy storage systems, and serial electronics for student satellites.

 

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250 лет труду Смита: как цифровые платформы возвращают к ядру экономической науки

Вопросы экономики. 2026. № 7. С. 5–27.
Kuzminov Y., Kruchinskaia E.

The year 2026 marks the 250th anniversary of Adam Smith’s “An inquiry into the nature and causes of the wealth of nations”, the work that had laid the foundations of economic science. The three factors of production Smith implicitly introduced — labor, land, and capital — no longer operate in their pure form: the digital and even non-digital sectors generate no profit without data, technology, and infrastructure, which calls into question the universality of the original system. This gap cannot be ignored: an economy in which the digital sector, comprising three times fewer industries than the physical sector, contributes twice as much labor input to output growth and in some cases leads in productivity growth rates is structured differently from the one Smith described. According to BEA–BLS data for 63 U.S. industries over 1997—2023, this gap is not cyclical: it registers a structural change in the very system of factors of production. The central question of this paper is not historical reconstruction but method: what would Smith have said had he seen digital platforms, and how would he have rethought his own categories? The same question is posed regarding the economists Smith directly influenced and who developed the theory of market organization, the firm, and consumer surplus — Marx, Marshall, Pigou, Schumpeter, Coase. The paper proposes a procedure of returning to the theoretical core that makes it possible to trace the evolution of factors of production from the original triad to a system that includes data, technology, and infrastructure, and to test this evolution through the sequence of these theorists. The analysis shows that the propositions formulated by the classics retain their validity on the whole yet begin to operate under conditions where market boundaries become, in essence, infinite. A transparent market open to small players has emerged, and economic science must reckon with this, and market power is shifting to the ownership of the digital assets that underpin it. Economic analysis of the information society, digital platforms, and artificial intelligence requires rebuilding the “hard core” of science, abandoning its textbook-based learning. Ultimately, such analysis is essential for informed decision-making, but economists must overcome the disease of neglecting the fundamental foundations of their theory.

Research target: Economics and Management
Language: Russian
DOI
Text on another site
Keywords: экономическая наукатехнологииэкономическая теорияtransaction costsтранзакционные издержкиАдам Смитeconomic theoryФакторы производстваconsumer surplusизлишек потребителя"созидательное разрушение"цифровые платформыdigital platforms Adam Smith
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